January Manufacturing Activity Update

Posted on 02.26.16

January Manufacturing Activity Update

Virginia Manufacturers along with other U.S. manufacturers should expect a slowing rate of decline in activity in the coming months according to a recent article in Reuters.

“The bad news is manufacturing is still contracting, but the good news is there are some signs of stabilization. There are still some dark clouds hovering over the first quarter and we hope consumers will return as savings are high,” said Thomas Costerg, an economist at Standard Chartered Bank in New York.

Manufacturers should expect slow growth in 2016 based on several factors with the main hurdle being a reduction in consumer spending.  Read the full article for more details on U.S. manufacturing activity.

Our industry focused team is well versed in the issues facing manufacturing companies.  We can provide you with accounting insights on ways to minimize tax and identify tax savings opportunities during these challenging times.  Learn moreContact us.

Source: Reuters, U.S. factories show signs of stabilization; consumers hibernate, Feb. 1, 2016

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.